UAE Bitcoin Miner Signs Order Worth Over $380 Million With Microbt

United Arab Emirates-based bitcoin miner Phoenix Group PLC has signed an bid worthy much than $380 cardinal with Whatsminer mining rig shaper Microbt. Bijan Alizadehfard described the collaboration with Microbt arsenic a reflection of his company’s “strategic foresight.”

Microbt to Integrate Hydro-Cooling Miners

Phoenix Group PLC, a bitcoin mining institution based successful the United Arab Emirates (UAE), has signed an bid worthy much than $380 cardinal with Microbt, a mining rig manufacturer. As portion of the agreement, Phoenix Group PLC volition person mining instrumentality valued astatine $136 million, with an further enactment worthy $246 million.

The UAE-based bitcoin miner is besides collaborating with Microbt to integrate hydro-cooling miners, which is simply a important milestone towards Phoenix Group’s extremity of creating High-Performance Computing (HPC) information centers. Bijan Alizadehfard, the co-founder and CEO of Phoenix Group PLC, described the collaboration with Microbt arsenic a reflection of his company’s strategical foresight.

“This collaboration with Whatsminer [Microbt] is simply a milestone for Phoenix Group, reflecting our strategical foresight and committedness to pioneering successful the tech industry. Our palmy listing connected the ADX has further empowered america to prosecute specified important partnerships, enhancing our capabilities successful the blockchain and cryptocurrency sector,” Alizadehfard said.

Phoenix Group has announced a multi-million dollar woody with Microbt, coming conscionable days aft its highly palmy archetypal nationalist offering (IPO) which raised implicit $370 million.

The oversubscribed IPO and the woody with Microbt some awesome a caller epoch of maturation and innovation for the UAE company. Phoenix Group PLC aims to leverage these advancements to reenforce its presumption arsenic a person successful the planetary exertion industry.

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